S01632 Summary:

Amd §429, add §429-a, RPT L
Discontinues the real property tax exemption for certain real property that is used for home games for certain professional sports teams in New York city beginning with the 2024 assessment roll.
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S01632 Actions:

03/17/2023PRINT NUMBER 1632A
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S01632 Committee Votes:

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S01632 Floor Votes:

There are no votes for this bill in this legislative session.
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S01632 Text:

                STATE OF NEW YORK
                               2023-2024 Regular Sessions
                    IN SENATE
                                    January 13, 2023
          GAL, JACKSON, KRUEGER,  RAMOS,  RIVERA,  SALAZAR  --  read  twice  and
          ordered  printed, and when printed to be committed to the Committee on
          Local  Government  --  committee  discharged,  bill  amended,  ordered
          reprinted as amended and recommitted to said committee

        AN  ACT to amend the real property tax law, in relation to discontinuing
          the real property tax exemption for certain  real  property  used  for
          professional major league sports
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Legislative intent. The legislature  hereby  declares  that
     2  any  provision  in  a  lease,  agreement or any other written instrument
     3  requiring that any taxes or their equivalent, set forth in such  instru-
     4  ment  in  the form of any charges of any kind whatsoever, imposed by any
     5  taxing authority, shall be made  the  obligation  of  any  person,  sole
     6  proprietorship, partnership, firm, corporation, limited liability compa-
     7  ny,  association,  franchise,  team, or any other entity, other than the
     8  owner or owners of such property, shall be deemed void as against public
     9  policy.
    10    § 2. Section 429 of the real property tax law, as added by chapter 459
    11  of the laws of 1982, is amended to read as follows:
    12    § 429. Real property used for professional major league  sports.  Real
    13  property  within a city having a population of one million or more, used
    14  by both a professional major league hockey team which is a member of the
    15  National Hockey League and a professional major league  basketball  team
    16  which  is  a member of the National Basketball Association to play their
    17  home games shall be exempt from taxation to the extent  said  taxes  are
    18  the  obligation  by  lease  or otherwise of the owners of franchises for
    19  such teams, provided that such owners enter  into  a  written  agreement
    20  with the chief executive officer of the municipality in which such prop-
    21  erty  is located to play their home games within such municipality for a

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.

        S. 1632--A                          2
     1  period of at least ten consecutive years; provided however, that  in  no
     2  case shall the exemption granted by this section apply to any assessment
     3  roll issued after the two thousand twenty-three assessment roll. The tax
     4  exemption  provided herein shall be granted to real property being used,
     5  in whole or in part, for the aforesaid purposes on the date such  agree-
     6  ment  is  executed and shall apply to taxes which become due and payable
     7  after the aforestated agreement is  executed  and  shall  continue  with
     8  respect  to  such property as long as both of said teams play their home
     9  games therein and no longer. Such exemption shall not apply with respect
    10  to any improvement to such property made after the date  such  agreement
    11  is  executed  which improvement is not used for the provision of facili-
    12  ties  or  services  related  to  sports,   entertainment,   expositions,
    13  conventions  or trade shows. If one or both of said teams shall cease to
    14  play their home games in said property at any time,  the  tax  exemption
    15  provided  herein  shall  cease immediately and such property shall imme-
    16  diately be restored to the tax rolls and  thereupon  become  subject  to
    17  taxation  and  shall  be taxed pro rata for the unexpired portion of the
    18  taxable year.
    19    § 3. The real property tax law is amended  by  adding  a  new  section
    20  429-a to read as follows:
    21    § 429-a. Expiration of major league sports exemption. The real proper-
    22  ty  tax exemption under section four hundred twenty-nine of this article
    23  shall expire upon the effective date of this section; provided  however,
    24  that the revenue and penalties collected by the New York city department
    25  of  finance  for such real property shall be remitted by the city of New
    26  York to the metropolitan transportation authority on a semiannual basis,
    27  to be deposited into the metropolitan transportation  authority  finance
    28  fund established under section one thousand two hundred seventy-h of the
    29  public authorities law.
    30    §  4.  This  act shall take effect immediately; provided however, that
    31  the provisions of this act shall apply  to  assessment  rolls  beginning
    32  with the 2024 assessment roll.
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